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Prepare contribution margin income statement

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Reference no: EM13552712

Gross Margin and Contribution Margin Income Statements

The following data are from the accounting records of Cunha Products for year 2 (all figures in thousands of dollars).

Units produced and sold

42,500

Total revenues and costs

 

Sales revenue

$33,000

Direct material costs

8,500

Direct labor costs

4,250

Variable manufacturing overhead

2,125

Fixed manufacturing overhead

5,500

Variable marketing and administrative costs

1,700

Fixed marketing and administrative costs

4,000

Required

Prepare:

a. A gross margin income statement.

b. A contribution margin income statement.

Reference no: EM13552712

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